Mission Mining Company NI 43-101 Reports 316 Million oz Gold, 2.23 Billion oz Silver, Gold Star Mine

$MISM - NI 43-101 Report states "the more conservative estimate would be for a total of measured and inferred resources on site of approximately 316.8 million ounces of gold and approximately 2.227 billion ounces of silver" at Gold Star Mine in NV.
 
LAS VEGAS - Nov. 18, 2013 - PRLog -- Mining Company - Mission Mining Company (MISM) - A National Instrument (‘NI’) 43-101 Mineral Resource Estimate Report on the Company’s Gold Star Mine located in western Nevada is now posted on the Company's website at MissionMining.com. The report confirms total Measured mineral resources of 17.2 million ounces of gold and 148.3 million ounces of silver located in the top 30 feet of surface material across the six Gold Star claims... or approximately $24.7 Billion in Measured gold and silver resources at our Gold Star Mine.

The following is an excerpt from the published NI 43-101 Report:

14.0 Mineral Resource Estimates

Based on historical sampling from a previous trenching program to a depth of 30 feet and auguring to 10 feet suggests a likely measured mineral resource of 20.01 million ounces of gold and 140.76 million ounces of silver. The Qualified Person, as a result of using a slightly more conservative density per cubic foot ratio for the resource in the calculations than that which was used in the above referenced historical reports, would suggest that a more conservative number for the values would be approximately 17.2 million ounces of gold and 121.0 million ounces of silver. (Measured Mineral Resource)

14.1 Historical Estimates

Previous historical estimates of the exploration property have suggested an overall average of 0.29 ounces of gold per ton of alluvium on site, and 2.04 ounces of silver per ton of alluvium on-site. Total tonnage of alluvium on-site was estimated, using the somewhat larger value for the density ratio of the alluvium, as being approximately 1.277 billion tons, while the Qualified Person, using the more conservative density ratio as stated above, would suggest that a more conservative number for the estimated tonnage of alluvium would be 1.01 billion tons. Using the historical analysis and computations, the total of all measured and inferred gold resources on site is estimated to be approximately 370.33 million ounces, together with approximately 2.605 billion ounces of silver resources. Using the Qualified Person's more conservative density value ratio to calculate the gross tonnage of the resource body using an assumed density (ρ) of alluvium equal to 95 pounds per cubic foot, the more conservative estimate would be for a total of measured and inferred resources on site of approximately 316.8 million ounces of gold and approximately 2.227 billion ounces of silver. (Inferred Mineral Resource)

Measured Mineral Resource - Definition per CIM Standards

A "Measured Mineral Resource" is that part of a Mineral Resource for which quantity, grade or quality, densities, shape, and physical characteristics are so well established that they can be estimated with confidence sufficient to allow the appropriate application of technical and economic parameters, to support production planning and evaluation of the economic viability of the deposit. The estimate is based on detailed and reliable exploration, sampling and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes that are spaced closely enough to confirm both geological and grade continuity.

About Mission Mining Company


Mission Mining Company focuses on the acquisition and development of significant US gold, silver, platinum group metals, and rare earth minerals mining properties and placing these properties into production. The Company has acquired 100.0% ownership of the six Gold Star mining claims in Esmeralda County, Nevada, and has executed a 49-years renewable mining / operating lease for the seventeen El Dorado mining claims in San Bernardino County, California. Historical geological reports on the two properties indicate substantial values in gold, silver, platinum group metals (PGM), and untested amounts of rare earth elements (REE).

Safe Harbor

This release may contain “forward-looking statements,” within the meaning of Section 27A of the Securities Act of 1933, as amended, and of Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief, or current expectations of Mission Mining Company and members of its management, as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-looking statements include fluctuation of operating results, the ability to compete successfully in its market segment, and the ability to complete some or all of the before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events, or changes to future operating results. Cautionary note to US investors: The US SEC limits disclosure for US reporting purposes to mineral deposits that a company can economically and legally extract or produce. Certain terms, such as reserves, resources, geologic resources, proven, probable, measured, indicated, or inferred, which may not be consistent with the reserve definitions established by the SEC. US investors are urged to consider to review and obtain copies of our filings from the SEC’s website at-http://www.sec.gov/edgar.shtml.


Contact:

Carlton Wingett – CEO

Phone – 888-459-4889

CEO@MissionMining.com

Contact
Carlton Wingett - CEO
ceo@missionmining.com
1-888-459-4889
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